On Wednesday state gaming officials gathered with the general managers of Lumiere Place, Harrah’s and Ameristar to discuss just how the industry was going to repeal the $500-in-two-hours loss limit that the state currently enforces. Also getting the boot are the card that keep tabs on just how much a gambler has spent.

On Tuesday Proposition A was passed with 56 percent of the votes cast. The proposition will also raise the gaming tax to 21 percent from the current 20 percent and put a cap on the number of casino licenses that are handed out. 

Spokesperson for Secretary of State Robin Carnahan, Laura Egerdal said that the measure is expected to go into effect immediately.

However, in reality it might only be two weeks before anything can be done according to Gene McNary, executive director of the Missouri Gaming Commission, as local election clerks must first verify the results before the numbers can be certified by Carnahan’s office. So, we are looking at no sooner than Dec. 2 for the initiative to go into effect.

McNary said, “This has some really significant potential as far as the economic situation in St. Louis and Kansas City. This will lead to a level playing field. The commission has said for many years that because of the loss limit, Missouri casinos were at a disadvantage.”

The measure had the backing of a varied cross-section of the population, which included casino operators as well as education officials. According to casino operators state Missouri’s gambling establishments will finally be competitive with those in neighbouring states once the restriction is gone. Currently gamblers are prevented from buying more than $500 in chips during a two-hour period.

Mike Winter, executive director of the Missouri Gaming Association said, “Missouri was at a distinct disadvantage compared to neighbouring states. With the loss limit being repealed, that allows our casino properties to market themselves as destinations for out-of-state patrons. We know we were losing out on some individuals.”

The tax increase was supported by many people including educators as it is expected to bring in between $105 million to $130 million more in revenue, which is supposed to go toward elementary and secondary education across the state.

Anne Marie Moy, a spokeswoman for the Yes on A Coalition, a group that pushed for the proposal said, “It’s the end of a long journey.”
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